Date: Sat, 11 Sep 1999 13:28:22 GMT
From: johnmorgannopsameja.com
Subject: Re: 1999 9-3 Lease question


In article <uBGc7V7##GA.307nopsamnbbsa05>, "Kenneth H. Yoon" <kenyoonnopsaml.msn.com> wrote: > I don't understand. If the actual market value of the car at lease- end > doesn't equal or exceed the vehicle's residual value, then the lessee needs > to make up the difference? > > This doesn't seem to make any sense, except as a good way for GM/SAAB to get > itself sued in a huge class-action. > You are absolutly right. At the end of the lease, you turn the car in paying for any excess milage and damage beyond normal wear and tear. Period! The lease has a guarenteed residual value which is the price used in computing the lease payment based on a prediction of actual market value at that time, and it is also the price at which you can buy the car regardless of that market value. For instance, I just got a new 9-3 on the lease deal, but I also have a Subaru Outback a lease on which expires November 2. The residual on the Outback is approximately $18,000, which is the price I can buy it for up until November 2, the day I must return it to the Subaru dealer. But the Blue Book retail value is about $21,500. So between now and November 2 I am going to try to sell it taking whatever I can get over $18K, which is money in my pocket. If I don't sell it, I will just turn it in. Any takers? Sent via Deja.com http://www.deja.com/ Share what you know. Learn what you don't.

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